The Creative Industry Financing Initiative (CIFI) is a loan scheme created in partnership with the Central Bank of Nigeria (CBN) to provide a loan for people in creative industry such as; music, fashion, entertainment and information technology. In this post, you will learn how to apply for CIFI loan through the GTBank.
CIFI loan is to enable Nigerians in the Creative Industry to a start-up business of their own in respective categories.
Accessible loan amount and interest rate
You can access up to N500 million CIFI loan for your creative business, with low-interest rate of 9% per annum.
Flexible repayment plan spread over 3 to 10 years.
Requirements for CIFI loan
To be considered for CIFI loan, applicants must meet the following requirements;
- Applicants must be into creative business (fashion, music, movies, and information technology).
- Must be dully registered with the Corporate Affairs Commission (CAC).
- Valid means of identification (Voter’s card or National Identity Number, NIN) – see short code to check your NIN on your mobile phone.
- Bank Verification Number (BVN) and a bank account.
- Must provide a clear business plan or proposal.
- Credit Bureau Report with no unpaid obligations.
- Satisfactory CRMS report of owners, sponsors, and directors.
- Active phone number and email address.
How to apply for the CIFI loan
To apply for CIFI loan, follow the steps below;
- Visit GTBank CIFI loan portal,
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Fill in your details appropriately.
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Click ‘Submit’, and download CIFI application form through the link provided,
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Print out the form and fill it.
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Scan the completed form and send to this email address www.cifi@gtbank.com. Also check out: List of Federal Government Loans 2020 (See how to apply for each of them)
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Thank you for your interest in the Creative Industry Financing Initiative (CIFI) provided in partnership with the Central Bank of Nigeria (CBN). This information is brought to you by nyscinfo.com correspondent..
Other loan you can access
- ₦75 billion NYIF Loan
- Federal Government TraderMoni Loan
- CBN AGSMEIS Loan in Nigeria (2020)
- CBN NIRSAL COVID-19 Loan
- N-power GEEP Loan
- CBN loan for Corpers 2020
If you have any question or contribution, go to the comment section below.
Chinonso Ugwuanyi
Venture into agro business
Poultry farming
Fish farming
Snail farming
Starting from small scale and raising it into a mighty agro business within a small time interval
If offered 3million naira, I will upgrade my small-scale fashion business into a big one that will encompass an academy that will enable me train others.
I will build a house of 1.5million then i will invest a big business ventures that me and other people will benefit from it
I will use the 3 million loan to expand my business. I am into ready to wear wigs for women. I am an online vendor, with the loan I will get a walk in location for my business and buy necessary wig equipment and materials. I will my business in a big way as I always wanted it to be.
I will start up a business and entrepreneur and at the same time an employer
I will buy a house of 1.5 million then i will invest a big business ventures that me and some people will benefit from it, at last I pray may them give me the money
I have always intended to see my business grow in both strength and popularity, though 3million naira may not drive my dream Buisness but there is a saying that, a journey of a thousand miles begins with a single step.
So
If I am given a 3million I will invest it in rice milling:
Today rice milling is one the best Buisness one can venture into in Nigeria.
Currently Nigeria consumes over 5million metric tons which is equivalent to over 1million 50kg bags of rice annually. With the current population growth in Nigeria the consumption of rice is estimated to reach about 35million metric tons equivalent to 700million 50kg by the year 2040.
So there is a high demand of rice in Nigeria with a population of over 180million people and an estimated national population growth rate of 5.7% per annum. Nigeria have a large
And growing market for rice.
So with this explanation new entrants into the rice milling industry will be able grow faster and have an evergreen market across the nation.
I will use the money to start up a Cargo truck/can for moving goods. With about 2.5–2.8m, you can get one and if well managed, will fetch between 200–400k per month
First let me say Amen to the 3million naira because it is life changing money in this time of era. As a graduate in search to find a means to survive in this country, I will start up my own personal business that will profit more money to me. Am into catering business and I will so much appreciate the money.
According to your question asked on
23rd of December, 2020 Christmas gift away that if federal government will give me 3million what am I going to use it for
Answer :Am going to look for shop in the market and fill it the shop with computers and accessories with 2.9 million for my business
According to your question that if federal government will give me 3million what am I going to use it for
Answer :Am going to look for shop in the market and fill it the shop with computers and accessories with 2.9 million for my business
Personally i love Agriculture, this 3 million naira enables me to start up my livestock business as a farmer.
And also selling Agricultural raw food business such as eggs, fish, oil and garri.
1. I will use 1 million and invest on longrich.
2. I will use 1 million and open a cement depot here at my area.
3. I will use the last 1 million to start up pig and cow business.
In longrich, what I invest, I will get products worth one million naira and also I will be getting alert every Thursdays for the rest of my life.
Currently pig and cow meat is highly need in my area and most part of the country.
People building almost every day and high demand of cement is need here at my area.
Believe me, in the next 6months I will be a millionaire.
Thanks
If FG give me N3m today, I’ll do 3 things with the money
1. I’ll open a barber shop
2. I’ll open a laundry business
3. I’ll do my ICAN exams
For the barber shop, my cousin brother who just finished learning how to barb, can manage the business and the profit will be shared based on agreement.
The other laundry business I can handle it and still prepare for my exams as well.
Base on my first comment I will start up a commercial farming with the skill I learnt during my nysc year and the little I have learnt as an experience such as fish farming or pig farming to live a comfortable life and to offer job to the society.
If Federal Govt give me 3m
1. Food is essential, whether there is lockdown or not, i will invest in food business
2. Transportation business, i will invest in it to ease movement to work, places, markets, traveling etc at affordable prices
I will use judiciously. firstly, as Nigeria is diversifying to agriculture, I will simply enter into poutry agriculture.i will buy many chicks and feed them till it is matured for sell. I will sell in high price and make gain..I will also distribute egg in large quantities to people.
I will invest the money on bridal and rentals, like pot, spoon, cooler etc for events. And also open a workshop for training individuals on catering.i will travel to China and buy wedding gowns and decorations materials
I have always wanted to have my own transportation business. With the 3 million naira, i will buy a clean car and register with Taxify, uber and the likes, and also engage in airport taxi as well. God willing.
If the federal government give me 3millions,I use one million us change my mother mordor house and I will use the other 2 millions to open business that will bring income and take good care of my families
I do apply for loan if I don’t have corporate account or current account? But I have saving account in GT bank plc, I’m also a freight forwarder into clearing & forwarding agent
If the federal government should offer me 3 millionaire with the situation on ground.first I will start up a commercial farming which I learnt during my service year such as pig or fishing farming .with it I will be able to employ and to offer job to the youth also to have a comfortable life without depending on government.